AVM finds high grade results in untested cores at silver project
Our silver and gold Investment Advance Metals (ASX: AVM) has just confirmed high grade silver in previously unsampled drill cores at one of its projects in Mexico.
AVM has three silver assets in Mexico with a combined ~100M silver ounces in foreign resources across 3 projects:
- Guadalupe y Calvo (60.6M oz silver equivalent foreign resource estimate)
- Yoquivo (17.2M Oz silver equivalent foreign resource estimate)
- Gavilanes (22.4M Oz silver equivalent foreign resource estimate)
Today’s news is from Yoquivo where AVM was testing old drillcores were parts of the drilling hadnt been assayed before.
Basically with this round of work, AVM was looking to fill in the information gaps on the resource defined on the project already.
Today AVM showed the market there was in fact more silver in those gaps:
(Source)
The results received are only a small portion of this program, so we expect to see more results coming soon with the core sampling program continuing.
AVM also drilled this project earlier in the year and has today stated that those assays combined with this sampling program are planned to be built into an upgraded resource, targeting a JORC resource at Yoquivo in Q1 next year.
What’s next for AVM?
Assay results from AVM’s Victorian gold project 🔄
AVM is currently drilling the Victorian gold asset, and we think the next hole could be the most material (if it comes in) for AVM’s current valuation.
AVM recently reported visible gold had been seen from the drilling cores, so we await the results expected before the end of the year.
(Source)
Being the deepest hole, it is looking to see if the structure extends ~60-80m below known mineralisation.
IF we see a strong hit here, it could change the way the market values the asset.
(Source)
Sampling of old drillcore at the Yoquivo silver project in Mexico 🔄
We are also looking forward to seeing the sampling results from the untested parts of AVM’s Yoquivo project in Mexico continuing.
The old drilling hadn’t been completely tested in the past so we should see the results from this in the coming weeks (hopefully the gaps in the veins from the image below are also mineralised)
The company has detailed that results from this are ongoing and will be used along with the recent diamond drilling results to update the JORC Resource for the project in Q1 next year.
(Source)
Exploration programs getting underway at all 3 Mexican projects 🔄
Drilling is expected to begin at Yoquivo this month where sampling showed grades from new areas as high as 1,594g/t silver equivalent, so we look forward to seeing the rig arriving on site soon…
(Source)
The drilling will also follow up on the area’s AVM drilled earlier in the year:
(Source)
Check out the plan to double the combined resources in Mexico which we covered here.
